Kahoot!, an Oslo based learning platform company, announced that has raised a gross amount of $28 million in new equity through a private placement of 7.5 million new shares.
The private placement also comprised 16.5 million existing shares and amounted to $90 million in total.
The private placement attracted very strong interest from institutional investors in Norway and internationally and was multiple times over-subscribed.
Both CEO Eilert Hanoa and Northzone Ventures, one of Kahoot!s largest shareholders, participated in the investment round.
The additional capital will help fuel further growth
The additional capital will help to continue expansion of its game-based learning platform to all segments — whether it be organizations, educational institutions or families at home.
Kahoot! also plans to invest further in research and development, product innovations, as well as expansion through value-creating strategic expansion opportunities.
Kahoot! had more than a billion participating players in over 200 countries in the last 12 months
Kahoot!’s game-based learning platform makes it easy to create, share and play fun learning games in minutes.
In the last 12 months, the platform had more than a billion participating players in over 200 countries. More than 50% of K-12 students and teachers use Kahoot! during a school year.
In addition, 87% of global top 500 universities and 97% of Fortune 500 companies use Kahoot! to make learning awesome.
19 million active accounts on the platform
In its latest mid-year update, the company had 19 million active accounts and 260,000 paid subscriptions, that included teachers and professionals.
To date, the company has raised over $110 million.
